The airline’s chief executive officer James Hogan said: “Sports sponsorship is a major part of Etihad’s marketing strategy and the growing association we are building with Formula One is a key driver to enable us to reach a global audience.
“With a TV audience of 2.5 billion people in nearly 200 countries, the association with Ferrari will give Etihad enormous worldwide exposure and help bring Abu Dhabi to the world.
“Ferrari is already developing a close association with our Abu Dhabi home base, through an exciting new theme park being built in the city, so this deal represents a natural partnership for Etihad. We share similar ambitions, to be the best in our respective fields.”
The iconic Ferrari racing brand is set to open a $600 million, 2,500 acre theme park in 2009 that will include 24 attractions.
Ferrari is already sponsored by Mubadala Development Company, an investment company owned by the government of the Emirate of Abu Dhabi with the company holding a five per cent stake in the 2007 world championship winning F1 team.
Luca di Montezemolo, chairman of Ferrari, said: “We are pleased to enter into this new partnership that reinforces our links with the United Arab Emirates. The collaboration with Etihad Airways is in addition to that with the Mubadala Development Company, which is already a sponsor and shareholder of the company. Then there is Abu Dhabi where the first Ferrari theme park is being built.”
The Ferrari F1 team sponsorship deal follows a separate three-year deal signed by Etihad Airways in December 2007 to become the title sponsor of the Formula One Abu Dhabi Grand Prix, starting with the inaugural event in 2009.
The deal will see the F1 race in the UAE’s capital city named the Formula One Etihad Airways Abu Dhabi Grand Prix until 2011.
